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I wonder how they approached him for the sponsorship. "We like ur videos on the rise and fall of civilisations. Could you advertise our vpn?" More please. 😁🧑🏫🙏😷🤌👏
@@Volition1001 no the big realization What was the worst serious nickname for covid you heard in person? It will be something like that where there mature people set the name and then imature people online make there own small variation off it
become self seficiant get what money you can and start a farm separate yourself as much as you can from the crumbling system and you can survive its fallout i can place people in 3 categorizes those detached from thus are only somewhat unaffected by the fall those depended on it and are dragged down with it those that lead us here in the first place that will go on about how much we must sacrifice to make things better look at how many rich men and politicians had vacation while we where in quarantine and how it is our fault the world is warming while their corporate CEO Friends get off Scot free or with a slap on the wrist for their massive role in it.
Before 2008 crash, I drove a lot for work. Night talk radio was all financial shows where every caller is calling in to ask, "I own three houses that are all mortgaged, how do I raise money to buy a fourth?"
I was selling home equity loans with ARM’s to people who could just write down their fake job and income for $300k+ homes back in 2004 and I knew there’d be money to make, I just didn’t know HOW and WHEN it would implode but I knew it would implode. They buyers were VERY complicit, not innocent.
“My grandmother once told me, ‘Back in my day, you were only competing with people in your hometown for jobs. In your mother’s it was only people inside your home country, and today’s it’s your entire world.’” I think this is an incredibly powerful and important quote from this video.
The problem nowadays is that you can outsource anything! Before the 1970s, most of the things you bought were made in factories in your country. Now, that stuff can be made much more cheaply in places like Indonesia. Even a service job, through the Internet, can be done by somebody in India.
If I had a dollar for every time someone predicted the absolute collapse of the modern economy, I would have enough money that I didn't need to worry about the absolute collapse of the modern economy.
I agree, I hear the same gloomy predictions every year since before the turn of the century. However, my caveat to that is that the way the government is propping up the economy through asset purchases and money printing is truly unprecedented. There is definitely cause to be protective and staying agile.
What's going to happen is going to happen. No reason to be sad about it it's not going to change anything. Just be aware and prepare as much as you can.
@@firingallcylinders2949 in Turkey to us State is sacred because the Turkish translation of State means "Devlet" whic means family,we even have songs that say "state father state father,we need you" but we dont want it to "overprotect"tho thats why state couldnt close whore-houses becase the goverment officals knew if they were to strict us we would revolt,there is even a joke "so a reporter ask prime minister about whore houses,prime minister says "What should we do? If we close Brothels, they'll fuck us ".
When the news says that stocks and the economy are doing well, yet everyone I know is teetering on homelessness and bankruptcy, even people who were considered "Middle Class" for most of their lives, I think the system is broken.
Joe Biden did that. He failed to recover the economy of 2019 and instead just printed too much money which causes home and rent prices to spike along with the shipping problems he failed to resolve which caused an 8%+ spike in consumer goods prices
I wouldnt call "The system" broken. I would rather call it working as intended even though im among those loosing out. Its a lottery. Be in the right place at the right time with the right idea and the right friends. The more of us are calling "The system" broken, the closer we are to WW3.
Roaring Yeah we're going to be roaring about how unfair it is we have to deal with this crisis for the 20s And only going to get around to stabilizing stuff by the 30s
Throw in a once in a Gen pandemic, and with that once in a lifetime economic layoffs and evictions, and we’re looking at 3 once in a lifetime economic events and i won’t even be 40 yet
We also have climate chaos, famine and mass migrations to looks forward to. People don't seem to realize how serious this situation is. It should definitely factor into any life plans you might have, at least realize that everything might go sideways
@@Titus7of9 In a lot of industries you have been undercut by, German/Japanese/American made Computer Numerical Control machines... Numbers from the USA say that about 80% of our lost manufacturing jobs were replaced by automation, and if anything the EU would have had a more extreme effect.
2042 is dumb. There'd be refugee camps everywhere if the world fell into ecological collapse not all this clean futuristic stuff + a little sand. It'd be way more gritty and far less shiny.
@@Average_Canadian like just talking about the 2042 lore. There'd be slums and ghettos everywhere due to people being made refugees due to the survivable areas decreasing. It's just weird to me that they'd make the setting of rapid climate change, but only halfway portray it. The desert map for sure would be scattered with refugee camps or deserted as people flee to less extreme climates. The massive migrations alone would cause upsets in power, changes in regimes, and potential for conflict and war would increase well on it's own as nations either crumble or grow exponentially stronger, and the remaining stable world powers imperialize and start proxy conflicts in the theaters of strife
@@rogueassassin875 2042 IS gritty but the rich countries of the world have money to maintain luxuries. And that’s how it is in real life. The poor suffer and the privileged thrive
Since World War I was originally called The Great War, and we currently call this event The Great Depression, does that mean that we’ll call the new Great Depression “World Depression II”?
Probably not tbh, World War II only happened around 25 years after the first one while this second Depression will have happened nearly a century later
Predicting a collapse like this is like predicting that a TNT warehouse is going to explode. You can tell the TNT isn't stored properly, you know it's dangerous, you know it's going to explode. But there's no way to know when the spark that will set it off is going to light.
Well, PEPCON was an actual rocket fuel factory (technically, the oxidizer, but it makes fire go crazy, so close enough) they stored massive stockpiles of their product all over the plant, in open barrels (collecting dust) after the Challenger explosion and NASA (their only customer) shut down all flights for months. A mountain of highly volatile chemicals left sitting around. Unsurprisingly, it all went off when some moron decided it was a good idea to do some welding on one of the metal walls and some stray sparks caught fire in the open barrels. The fire spread and even detonated the natural gas line running under the plant, making a visible sonic boom and knocked out windows al over the Las Vegas valley. No matter how blatantly obvious it is that you shouldn't light a match in a room that's literally a powder keg and everyone there knows it, some moron will always light the match. You simply can not underestimate the potential depths of human stupidity. Every time a new low is found, some one else makes a deeper hole of stupid.
@@tim333y7 I think 2025 at the longest and 2022 at the shortest. Its too late the government did its damage and the crash is incoming all we dont know is when
There was some wrong stuff in there...like some funny stuff, how he was talking about CPI inflation and there was a deflation graph in modern economies showing in the video. And like...he didn't differentiate between corporate or private debt and govt debt. Like majority of debt, esp in china is private debt. Given how china doesn't show data of it's actual govt debt but ok
I am really curious to read this comment section in three years time. Very bold of you to put such a discrete prediction on public display, which gets my respect.
I mean bold, hyperbolic statements are the lifeblood of this channel State forces encroaching on crypto and a large scale conflict are somewhat inevitable. Government election cycles mean no national power has any motivation to stop playing the short term game.
This subject is common knowledge and has been for decades. It was clear by 1992. I wrote about it extensively beginning in 2004. The problem is that it's impossible to tell the public anything depressing about the future unless they can find discounts (opportunity) in it - and no institution has an interest (gain) from forcing costs of adaptation on the public when they can't 'feel' the causality. So this is why people, marriages, businesses, industries, economics, countries, empires and civilization fail: everyone prefers managed decline over the costs of adaptation that would cause nearly all members to alter their status hierarchies - which is the human system of internal measurement.
World is already disgusted by them , maybe we are going to get something hybrid of many super companies controlling everything and ppl get to elect between companies and their CEO s , so it's like super capitalism mixed with super socialism
@@VivekKumar-rb7zk No, I'd just say super anarcho-capitalism. So basically just modern fascist Dictatorships with the sole goal of profit. The idea that the super rich would want to risk their power on the will of the people is not realistic.
@@VivekKumar-rb7zk doesen't matter, greece elected fascists into their parliament after their economy collapsed. All you need is desperation and people will turn to the extreme
@@damnedlegionaire sorry bro no exits but there's a way that we can take back the old world and what we had and have so much more the wheels of History move for blood and blood alone so let's start writing and the chaos begins in the streets let us kill kill and kill and kill until there is order when we find the corrupt we will kill them when we find the ones who did this we will kill them I want any fool stand in our way for a world that could have even more than what we had we will kill them store not to order but a Utopia
@@TheOneGuy1111 Worldwide inflation. Looming food crisis in africa and middle east. Gas prices all time high. Global currencies are in decline while all institutions are predicting recession within one year. Let's not forget the war. Supply chain are disrupted across the globe. There is fertiliser shortage. Well only thing i can think to make situation worse is severe climate condition leading to draught and floods and we are set for once in a lifetime ride to depression. But yes only thing that can collapse modern economy is ww3 which is nigh impossible.
I mean you hardley need to act like its some kind of secret you're introducing him to since he'd already said plainly that he was already aware of that.
I don’t care what it is. Mask mandates, school, healthcare, anything. I want less government involvement in it. Especially the federal. Reduce the fed by 95% (keep infrastructure and the military).
^ true. Looking at old news clips of the ‘08 crash and seeing all these stocks at bargain basement prices - man, what a missed opportunity. Then again I was unemployed for over a year as were many of my friends at the time thanks to the crash… can’t buy stonks if you’re poor. If anyone’s fortunate enough to weather the storm, this is when you seize opportunities.
The "great decoupling" is responsible for the productivity going up and wage stagnation. In other words when people want to say that automation will put people out of jobs in 2021. Actually, Automation was increasing productivity without workers receiving any of the gains as early as the 1960s or 1970s, I forget.
Automation isn't going to take over all of our jobs anytime soon. Not enough engineers, technicians, and production capacity. Also, we are getting a "Great Retirement" of well trained, experienced technical staff that are not being replaced by extremely short sighted companies. My prediction is that Automation will experience a shitstorm.
Automation has been doing that since the 1600s when looms killed the concept of "winter work" in rural communities. It used to be that they spent the winter sewing or making small crafts to sell in the spring to compliment selling produce in the fall. But the invention of "looms" and "spinning wheels" allowed specialists in the city to do the work much faster and better for little more than the cost of rent in the city. There's very little new about current automation that we haven't been dealing with for centuries. Tools allow for way more productivity and whomever own the tools captures most of the benefits of that increase in productivity. When people could buy their own sewing machines of the same style as the factories they could and did go into business for themselves and captured most of the products. When it takes several lifetimes of income for the average worker to build a factory that will be obsolete in twenty years workers take whatever they can get. Currently it's cutting both ways, but we do need a concerted effort of getting tools in the hands of the people or we'll start looking increasingly feudal as time goes on.
The biggest issue in the west (especially the USA) is the insane cost of housing. There are three basic things you shouldn't fuck with as a nation. Food, Water, and housing. If people can't afford a roof over their head they will become desperate fast. Two generations of adults in the US are slowly realizing that home ownership is now only for the rich. As a person in his 20s who would like to own property one day, I truly believe this won't stand. How will the rich justify owning several real estate properties "as an investment" while middle class families have to rent apartments. At the very least this will effect birthrates since who could afford a child if you put half your income to housing. But I am personally hoping it leads to some real progressive policies that limit the use of housing as an investment asset to those that actually live in the homes.
So much good would come from regulating housing market a little bit. Make it impossible for big corporations to buy entire blocks and stuff. Allow people to rent out their besements and extra rooms of course, or if you happen to be 2 homeowners you can rent out your extra home. But any more than that takes a very big toll on the market and unnecessarily prevents the average man from owning. Everyone (as many as possible) should own their home, even if it's just a small apartment.
No don’t regulate housing, build so many more houses that it drops in price again. Either way let’s be honest it’s gonna crash in like 6 months with a 40-60% home price drop soon. So don’t worry too much about housing worry about employment
@@LucasFernandez-fk8se You're not going to be able to afford a house if the housing market crashes and the US enters a depression. No bank will let you pull out a mortgage.
The nice thing is that the energy transition will not yield. Less money means less money to use on fossil fuel subsidies. And in the meantime, we have 4-5 years left to get the last of the renewable technologies cheaper than fossil fuels.
Whatifalthist: “We’re soon going to have another Great Depression.” Me: 🥺 Ad: “Today, I’m going to show you how to make the food that helped save the U.S. during the Great Depression.” Me: 😭
This stuff sells ads. Don't buy into the stupid fearmongering. Granted a think a crash is coming but honestly this dude is pretty dumb. His reasons for thinking a crash is coming is laughable. Except maybe the property bubble, but that's not likely to be the same as 2008. Capitalism is going to crash because it erodes its own base by reducing wages. Not to mention it's inherit instability as we can see how a distributed economy of self interested short-sighted individuals fails to react to literally anything. Every small disruption is a disaster. So that's climate change, resource depletion, living beyond means based on debt fueling bubbles. Look at the panic now that workers have a tiny amount of bargaining power now.
One reason so many people don't want to take the low paying jobs is that they keep expecting more work out of people while treating them worse (with many protection that had been around for decades being eroded) -- to the point some people who could have held such jobs a decade or two ago now would be physically unable to do what is demanded. Of course, this has a snowballing effect as increasing understaffed employers end up push their remaining employees that much harder (often while providing less service to customers) to pick the slack created by unfilled positions -- which then makes even more people unable or unwilling to work in such businesses (and yes, there is no question as I'm concerned that both unwillingness and inability to meet demands are factors effecting different individuals).
@@nelson6702 I don't like you, and you control me, but at least our neighbor hasn't killed bolth of us... in very creative ways. The historical way of ruling mentality
I can't stand people who look at history and current social problems and say "this looks like a job for Government!" It's the epitome of "I have no idea what I'm talking about"
Nietzsche became ashes, and he did not come back. As in, for the last decade of his life he was incapacitated by illness. People forget that suffering tends to destroy far more people than it transforms. I think only about 5% of our suffering is actually necessary to learn what we need to know. I would know, personally. I have fought like hell and suffered terribly for 25 years with mental illness and addiction, and all it did for 95% of that time was fuck me up and make me isolated, lonely and bitter. And terrified all the time. Only until I found the right, most advanced modern neuroscientific tools did things start to slowly improve. At this rate, in five or so years I might be okay! But if I had found neurofeedback ten years ago, well...I might have had even a snippet of the life I wanted. Or even children! I think I would have wanted kids if I got into a serious relationship when I was younger, but now, at 42, I'm tired. Bone-weary. We have Stockholm Syndrome when it comes to suffering. We have suffered so much as a species and for almost all of history could do nothing, so we invented this philosophy to justify it. Now that things are changing, we are still stuck in 'suffering = transformation' mode. To keep moving forward we have to drop the mostly bullshit approach.
I work with a guy who has a whiteboard full of his "theories for the next 5 years" behind him. Whenever the dates he puts down for events go by he just rubs them out and puts new ones in. This channel reminds me so much of that guy.
“We’re the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War’s a spiritual war… our Great Depression is our lives." Get out there and find *your* success tone your body and be diligent in your applications of frugality and the use of your time.
@@johnl.7754 I don't think nukes will be casually launched around even if another Great War breaks out. But small nukes against strategic targets might be a thing if it comes to it.
"If NFTs, literally the dumbest thing of the century..." It isn't dumb if it functions the same way that High Art does - it allows you to launder horrifically large amounts of money as 'donations' to different charitable causes, especially beyond State lines.
The better way to think of NFT is that it allows you to buy a file that can't be copied. Which in the future would allow you to buy a house online, just buy the deed NFT and boom there's a house you now own the deed for online.
@@Myname-cb9ru Being able to sell a deed for crypto-currency outside of the regulatory framework of realtors and banks would largely be considered laundering by the current system, though. Imagine buying a house without a credit check, and no background investigation where they have all of your identifying info! So NFTs are still a way to launder money, regardless of what asset you are talking about.
NFTs are really just another reason why the rich will get richer and the poor will get poorer. NFTs aren't a beginner friendly business model, since you have to invest about 80 dollars (currently, considering the Ethereum gas prices) to launch just one NFT. Celebrities can launch any random NFTs and people will blindly buy them. But if you aren't well known, most likely people won't be interested in your NFTs and you'll end up just losing money.
i have to say, there's a weirdly satisfying element to returning to this video only to see it was 100% right (which of course, anyone who was paying attention to both it and the state of the world would never have doubted). it's especially satisfying to read through all the comments by the smug haters who have gotta eat their words now.
I've seen people trying to discredit him as a college dropout, his age, etc. Yet a man with information is a man with information, no matter what background
There’s been a total collapse of the global economic system? I must have missed it. So far we have Reagan era inflation levels, which the fed is fighting by raising interest rates. Likely this will cause a recession, but the fed is trying to move slow enough to have a “soft landing” and avoid an actual recession. None of this is good, and we still don’t know what will happen, but how exactly has a prediction of a depression and total collapse of the global system been vindicated?
I’m at agricultural College at the moment in Australia and our economics lecturer (he’s a hedge fund manager) has been telling us how to position ourselves in preparation for this crash. Essentially to avoid inflation, own physical assets with intrinsic value like gold and property.
That's good advice. Since your in Australia it doesn't really apply to you but ammo is a really good investment in the US. It'll hold it's value against inflation and can sit in a box for decades.
Is crypto viable? I’ve been thinking about putting a chunk of my life savings in it. I know it’s very unstable but after seeing this video I think it’d be better than nothing
I have never had the luxury of living a comfortable, stable life. I was born into first world poverty, and have bounced in and out of the lowest possible form of "middle class" (only technically considered that btw) for the bulk of life. I have been homeless six times, and no matter how hard I have tried I never get ahead. I do not have family to lean on or connections to exploit. I have mental limitations that hamper my ability to understand some of life's complexities others do not struggle with so much. If it were not for my personal friends and my ability to draw nice breasts, I'd have nothing. At the end of the day people like me, and those adjacent to me, suffer the most in our respective nations. First and second world considered. We are exhausted, and we are the growing majority with each passing decade.
This video was made before Ukraine. Petrol prices are at &2.20 Aud which means it takes $75 compared to the post covid price of $1.60 which was about $50 odd to fill up. Not to mention the expected rise in food prices due to delivery costs. The domino effect of people reigning in spending in order to survive is yet to be felt.
What you fail to mention is that five tech companies make up 20% of the SP500 Index's value. These companies (google netflix facebook apple etc) were direct beneficiaries of the stay-at-home restrictions put in place by governments and have very little physical footprint. So it is not really surprising the stock market went up in late March of 2020. Meanwhile, the sectors of the market that were most impacted by COVID (travel and hospitality) make up a very small percentage of the SP500 index.
I think you actually just helped prove his point. How could 5 tech companies represent 20% of the economy? It doesn’t. The stock market doesn’t represent the economy and that’s one of the many problems.
@@ky_1219 They don’t represent 20% of the entire US economy, they make up 20% of the SP500 index which consists of the largest 500 companies in the US. There are countless small businesses and many smaller and medium cap stocks not included in the SP500. These are also massive global companies that produce huge revenues.
Actually... the all the multinationals behind the deep state (not just the ITs like google netflix facebook apple etc) were DIRECTING the stay-at-home restrictions and lockdowns put in place by governments...
@@neasper ah yes turkey currently competing with France in the eastern med as France attempts to contain turkey there trying to pick up influence wherever they can.
"Tech has no room to expand" tech has been expanding since the first hominid sharpened his stick while the other has unsharp sticks. Tech isn't "screen time" this is a dumb take
"People will be moving to remote areas to work from home" -> "Tech has no room to expand" ???? Bullshit. Tech is not overvalued at all, it's what defines this age and day.
Interesting about tech. I honestly, do think tech is somewhat overvalued, in the sense lots of people are betting on the future of tech companies, and I dont see them producing something this revolutionary until 10 years down the line. Like in the short term, tech is looking to be a bubble. In the long term, this bubble may not matter since everything is heading towards more and more tech, and the previous 10 years I believe, without tech, would have been an absolute disaster for the US and western nations. Tech is the reason why '08 recession 'recovery' actually produced something, without it the US has produced literally zilch.
Yeah, that's a pretty standard bit of motte and bailey rhetoric. When he says tech he's referring to a very specific period in the present and recent past that revolves around companies creating businesses to take advantage of internet technology over the last 20-30 years. To "refute" this you refer to a different definition of tech: ALL Technology that has ever existed. You knew what he meant by "tech" (of which there are many that predict it's in a bubble or overvalued at the current moment) but instead of coming up with an actual counterpoint, you just used a different definition of the term so you could pretend that you're smart. You're not.
@@MidlifeCrisisJoe did you listen to the part in referencing? He literally says tech has hit a limit bc people are unhappy with the amount of time they spend on screens and the internet. Tech isn't screens and the internet......
Yup ! Absolutely ! E n d t i m e s and e n d g a m e s - SARS/COV-desaster -> total population and mind control and the biggest crash of history lurking at the horizon . . . . prepare for the worst my friends . . .
Same here although for me it will probably be my 30s. The only problem is I live in a place famously sandwiched between Germany and Russia... hopefully I'll survive the opening fireworks.
@@kamilszadkowski8864 I doubt germany and russia will get into any serious conflict, russia is a dying power and probably will continue to crumble under the weight of its corruption and militarism. If anything I’d probably just assume increasing nationalism when the german investment pulls out.
@@kaihinton6623 Well, it depends. The current Russian doctrine predicts using the Russian Army not against major powers but against their smaller neighbors in short, low-intensity conflicts. So happens that Lukashenko is currently pushing "migrants" across my country's border while new Zapad maneuvers are planned to happen in the near future. So a form of hybrid warfare is already in use against us. So I'm afraid that we will end up with a never-ending border conflict that will only go as hot as to not trigger article 5. I'm not afraid of a full-scale conflict, however, (which may happen if NATO collapses under the weight of future crises but this is unlikely) but I am afraid that my country will either lose most of its sovereignty or sense of identity or both. By this, I mean the ability of independent decision-making and having a voice in matters relevant to our region. Most of it was already taken from us either by the EU or by powerplays of Germany, Russia, and the US. Look at Nord Stream 2 as an example of it. Ukraine and Poland got absolutely fucked by all three. So I'm basically facing two possibilities. I will either live in a country and nation deprived of its own agency and identity through the EU institutions and influence of Germany as well as left-wing/woke ideologies, relegated to be the province of cheap workforce and consumers of lesser quality products in exchange for being quite modern and reasonably wealthy. The alternative is to "de-westernize" and break those ties at a price of a much worse economic situation and even more uncertain situation at the Eastern border. Anyway, the game is rigged.
@@kamilszadkowski8864 my guess is the latter. If events play out as predicted, then economic hardships will cause more advanced nations like germany and western europe to retreat from globalism. I wouldnt lose hope though. Poland today is still leagues ahead of nations like belarus and russia per capita, and even if they are able to strongman their way into some kind of threat to poland then even a limited german presence might just be enough to deter russian encroachment. Russias immediate goals though are more focused around their immediate border regions such as ukraine and the baltics, which they seek to integrate and ‘reunify’ to restore former russian hegemony over eastern europe. This has been russias goal for the past 20 years and they have for the most part been pretty unsuccessful at it. Considering russias declining birthrate though and their inability to advance past a gas export driven economy they will eventually just become a failed state. Perhaps someday in the future though they may be able to reform into a more open nation.
As hilarious as that would be, I'm pulling for The Great Misery. Other commenters recommended it, and I quite like it. I think it sounds quite grandiose and dramatic, just like the fireseeable future of our planet...
Yup. I've read a few books about this, and we're in the end of the largest secular cycle in history. I'd request you to read professor Erik Kaufmann's books on religion and other demographics to get a better understanding.
@@Joseph-do9nz Thanks for the reference, Kaufman’s stuff looks damn interesting. I’d also like to see what althist has to say about Strauss-Howe theory - and the conflict between cyclical models of history vs progress models of history more generally.
@@swole5711 It's like predicting weather. You can safely predict what the weather will be tomorrow, or maybe even a week from now. But a month from now? A few months? Many months? A year? Your predictive power depreciates the more variability you involve by adding more days within the prediction measure. It's naive to assume that current paradigms or the status quo cannot be changed. You might very well experience the Great Depression of our generation. Only time will tell.
Buy land. Grow crops. Buy guns. Live next to an independent, strong community doing the same thing. In USA, you can find these communities near Protestant Churches in rural areas (which is... meh, cause I'm a Catholic, but oh well) Atleast you won't starve and die if things become communist-russia-level bad (which I doubt will happen, but nothing wrong in being cautious)
@@Joseph-do9nz They will become around the level of Soviet-Breakup for the majority of the planet. Very few areas (and even less of those being accessible) will escape it. However, a few will be hit much, much worse. Stay safe, stay well, and stay free.
everyone 20 years older than me: "you guys have it so easy, we had to walk to school and didn't have those fancy computers* me: *9/11* *arab spring* *coup d'etat at my country in 2009* *all the presidents family gets locked up for drug trafficking* *historic hurricane damage* *the cheeky virus that has us locked up*
Youngster, I'm almost positive I've got more than 20 years on you and I don't know of a single oldster who thinks things are easier for the upcoming generations. I think you are all screwed. My day may be over, but I realize at least I had one!
The Great Depression: **Continues for a couple of years** Me: Okay, I’m fine, I will be entering the workforce towards the end of the recession. Althist: ”This will last for several decades” Me: WELL MY LIFE JUST SUCKS
No one can predict the economy, it's funny how every person calling for a crash can't explain in detail how and why exactly is crash gonna happen but instead use very vague sayings like "this will be something like we've never seen before" or "this will last for x years". It's because they don't know.
You're late. Also, I'm not sure there will be a stock market crash. The stock market is not an indicator of the economy. It's simply a basket of companies. Many of these companies will outlast the USD. The S&P keeps "going up" because of an illusion. It's actually just maintaining its value. The amount of money needed to buy a share of X, Y or Z is going up, because the USD is losing value rapidly.
3:08 I have read many theories about the depression and none of them support this conclusion. 3:36 Also not what anyone thinks caused the great recession 6:07 classic middle schoolers take on the Phillips curve 6:27 You're kinda leaving the massive productivity gains brought about by globalization out of the picture. International competition is making the world richer, we just aren't distributing that wealth well 6:47 its genuinely irresponsible to make claims about economics without understanding it at all 7:00 "so that people feel less poor" See above comment, this is not how monetary policy works. The Fed has a target or 2-3% inflation, they were below the target so they printed money till they got there. 7:21 an extrapolation from the previous incorrect conclusion, the bullshit snowball is beginning to get rolling. 7:25 only if you only look at nominal figures, the debt to GDP ratio was much higher in the 1950s worldwide 7:43 The military has little to nothing to do with it, its an outgrowth of the Bretton Woods system and the size of the dollar. Analysis of why others can't replace it are spot on tho 8:26 beginning to look like one of those marketing videos targeted at old people to get them to invest in gold 8:43 Crypo... sigh 9:05 "Dollar is weak" how exactly? When crises happen (see 2008) others flock to the dollar for stability, there does not currently exist any currency that can replace it. 11:06 talking about peacetime debt, examples... wars? And the graph is of inflation? 11:20 Again, not true. We had higher debt after ww2 and we got out by just keeping a balanced budget and growing the economy. Same with every other country in that period. 11:40 can't even read the newspaper smh, the 3.5 trillion is over 10 years not 1 year. 12:19 why? it hasn't been representative of real economic health for the last 150 years, why would it start mimicking the real economy now? Its doing what it always does, over inflating and then crashing back down. 13:40 don't disagree per say, but the dot com bubble was the same and the recession was minor 15:08 cringe, the welfare went away and nothing changed so it clearly wasn't that 15:22 No..? You can use statistics and economic theory, there is tons of good data to work with. This is perhaps the most cringe take in the video, Stock market bubbles and public debt are two of the most studied fields in public finance. There is decades of literature you could have read that would inform a more sane conclusion. Thinking that government data is falsified is also pretty dumb because it is a completely unsubstantiated belief. There are no examples of falsified economic data from the last 70+ years TL:DR This is giga cringe. Read an econ textbook for once and stop prognosticating about things you know nothing about
Thanks for putting up the only sign I've seen in the comments that maybe we shouldn't guzzle down the doom juice, it's too easy to get off on hopelessness
@@LosOdium141 It just get under my skin seeing these videos because I know that ~7 years ago I was guzzling the doom juice too. Tried to get my parents to pull out of the market in 2014. They told me I was an idiot and made 30% gains for the next 7 years. Now I have an econ degree and am cursed to see teenage versions of myself making the same mistakes.
Points where you're wrong/mistaken/need correction: 1. We've been in a bubble for a long, long time. 2008 never really completely popped. Really hard to predict when it will pop. It could also deflate a little and get delayed by yet another 10 years. 2. US main export is the US dollar. It's not just that India needs to buy US dollar to do trade. An Indian citizen will buy US dollar to store his wealth. As such US doesn't experience 'normal' inflation as it's largely exported, in fact it suffers the opposite thing - demand for US dollar is too high. It's true that it could be changed with adoption of BTC or Yuan around the world, but arguably that will be better for US citizens (asset prices will decline but standard of living rise). 3. Printing doesn't lead to inflation. You also need to distribute the printed money around population. UI benefits and checks and rent assistance do that, but to an extent. It's not the full trillions that Congress spends (would've been GG already). 4. People popping up memecoin and memestock price are NOT wealthy. It's retail investor. And it's fascinating. Basically they are irrational and it's a proxy for gambling. You can ignore it and not think about it at all. If financial institutiona start buying doge, yeah you could be worried. 5. You're thinking wrong about NFTs. Think about luxury watches, jewelry, or cars. Completely useless things, yet people buy them like crazy. We're social apes and showing off that you're higher status ape is important to a lot of people. NFTs to tech founders and CEOs are what roll royce to mafiozzo. 6. Back to inflation, US dollar will be the last fiat to go. Expect every other fiat to start losing value first, and only afterwards US dollar. As other fiat drops, demand for US dollar will grow, giving it more time to live.
I want to see what economists who disagree with his main thesis say. He just kind of makes broad stroke statements against every economist for being "stuck in a post-WWII world," but he doesn't respond to any specific claims from those economists.
The only reason it didn’t crash was 1. Governments started printing lots of money 2. (VERY IMPORTANTLY) People aren’t spending money on normal consumer goods like food and such, they’re spending it stuff like PC parts, stocks, and other things. This has temporarily slowed down inflation in key and noticeable areas, but all investments flow back to consumer goods, so EVENTUALLY, stuff will increase
@@lemmonboy6459 Ive been hearing my whole life (38 yrs) about how printing money is going to cause the end of civilization. The only thing which has happened which looks vaguely, slightly apocalyptic has been COVID, and it wasnt caused by printing money.
"This recession will likely spark a series of events unlike anything seen before in human history" I thought the same a few months into quarantine. Over a year later I can say we are seeing things happening that I didn't expect for another ten years.
Can’t speak for OP, but personally I didn’t expect the open hostility between China and the west for at least ten more years. The US and China’s economy’s are so intertwined, I figured the establishment would continue to let China’s shenanigans slide, since so much money was on the line. Then the pandemic happened and everything changed. It seems like just yesterday Trump was thawing relations and signing trade deals with Xi, now suddenly it feels like we’re on the brink of war everyday. Remember when Russia was the big threat after Crimea? Seems like small potatoes now.
@@Legenderrydanny energy crunch happening all around the world? For me, I will never imagine the second largest economy on the world constantly on blackout on its most major cities. So yeah, didn't expect that.
We are on the brink of world War 3 now. The way to prevent it is isolate Russia and China, yet the west has no intention of doing that. While Russia and China might not be the best friends if the US wasn't keeping them I'm check they would be better. Just like the economy though, I'm sure they will find a way to keep avoiding the crisis.
![HIWWHEE | OHM [Official MV]](http://i.ytimg.com/vi/OJJLtTLqLag/mqdefault.jpg)
Go through my link www.privateinternetaccess.com/whatifalthist to support my channel and get PIA VPN for less than $3 a month and 2 Extra Months for FREE, means only $2.08/Month and 83% off!
Better not put that sponsor money in a savings account...
@@brislyboar ^
@B R I S L Y you paying his internet bill?
@@dracker8015 yes, I have TH-cam premium
I wonder how they approached him for the sponsorship. "We like ur videos on the rise and fall of civilisations. Could you advertise our vpn?" More please. 😁🧑🏫🙏😷🤌👏
My only recommendation is that we don't call it the "2nd Great Depression", call it the "Great Misery"
Knowing how society is today it’ll probably end up being “the big not good” or something like that
@@Volition1001 no the big realization
What was the worst serious nickname for covid you heard in person? It will be something like that where there mature people set the name and then imature people online make there own small variation off it
The greatest depression
The Greater Depression
The Big Sad
“A new Great Depression will happen in the next 3 years”
Great, just in time for my graduation and entrance into the workforce
Same can’t wait
Thats going to make my entrance into the workforce right after covid look like a kiddie ride.
I’m sure I’m gonna have a grand old time going through this as I enter med school.
become self seficiant get what money you can and start a farm separate yourself as much as you can from the crumbling system and you can survive its fallout i can place people in 3 categorizes
those detached from thus are only somewhat unaffected by the fall
those depended on it and are dragged down with it
those that lead us here in the first place that will go on about how much we must sacrifice to make things better look at how many rich men and politicians had vacation while we where in quarantine and how it is our fault the world is warming while their corporate CEO Friends get off Scot free or with a slap on the wrist for their massive role in it.
that happened to me in 2008 ! ah great times . . . . : (
“We will experience possibly the worst economic crisis in human history” *cool guitar riff plays*
Another great depression. So that would be the greater depression
Seinfeld bass riff or the outro for curb your enthusiasm are my choices for music to go with it
Father! The sleeper has awakened!
@@dean_l33 AKA "the even bigger sad"
@Bekhzod Musaev JA MEINE FREUNDE. DAS ALIEN VEPONS GO BZZZ
Before 2008 crash, I drove a lot for work. Night talk radio was all financial shows where every caller is calling in to ask, "I own three houses that are all mortgaged, how do I raise money to buy a fourth?"
And earlier this year so many Super Bowl ads were about investing and/or crypto. 🤔
I was selling home equity loans with ARM’s to people who could just write down their fake job and income for $300k+ homes back in 2004 and I knew there’d be money to make, I just didn’t know HOW and WHEN it would implode but I knew it would implode. They buyers were VERY complicit, not innocent.
“Third world contries and low income people will suffer the most”
Me, a low income citizen of Brazil: I’m fucked
Oi
@@splashnskillz37 eae
Same in india 🥲
Me a first world European wanting to move to Brazil because I’m fed up of Europe…
''poor regions will suffer''
-how original
''but this time rich ppl might experience some mild discomfort''
-daring today aren't we?
Whatifalthist: “If you enjoyed that video…”
*literally predicts the collapse of the global system*
Me: “yes…. So much fun…”
Haha :((
Good I hate the modern world
... Please like and subscribe.. with conflicting emotions.
Unironically, yes.
@@bornstar481 return to monke meme wasnt a satire but more of an advice
“My grandmother once told me, ‘Back in my day, you were only competing with people in your hometown for jobs. In your mother’s it was only people inside your home country, and today’s it’s your entire world.’”
I think this is an incredibly powerful and important quote from this video.
The problem nowadays is that you can outsource anything! Before the 1970s, most of the things you bought were made in factories in your country. Now, that stuff can be made much more cheaply in places like Indonesia. Even a service job, through the Internet, can be done by somebody in India.
@@nathanseper8738 That's one of the reasons why places like Detroit saw an extreme increase in crime
And everyone wants to bring the entire world into our countries so that even our local Joe jobs have the be completed with the world for.
There was a saying in colonial Virginia, "No man's life or property is safe while the House of Burgesses is in session. "
@@nathanseper8738 Isolationism is good
The trick is to be living in a country that has great depression and collapsed economy by default. You won't even notice the difference.
I'm tempted to end the 69 likes...
@@St.Raptor : )
@@St.Raptor oh I did I'm sorry, you can like now Kappa
I’m gonna come back to look at this in 3 years. I’ll see you all then.
Someone forgive us all...
if youtube is even still up
Take care, brother
You'll probably be in a bunker or a derelict building with a bit of electricity and a makeshift router.
See ya soon! :)
If I had a dollar for every time someone predicted the absolute collapse of the modern economy, I would have enough money that I didn't need to worry about the absolute collapse of the modern economy.
LOL I feel like thats something this video totally ignored.
Since I was like 9 in 2009, I’ve literally been hearing every single year, the world economy is gonna collapsed and it has yet to happen.
@@jasonapplebaum9871 didnt it collapse right in 2009? Lol
agree
I agree, I hear the same gloomy predictions every year since before the turn of the century. However, my caveat to that is that the way the government is propping up the economy through asset purchases and money printing is truly unprecedented. There is definitely cause to be protective and staying agile.
“Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves.”
― Fred Flintstone
Pretty epic Fred Flintstone quote not gonna lie.
This is one of the deepest and truest quotes I've ever herd and it was said by Fred Flintstone. WTF is my life?
it was this quote from Fred Flintstone that changed my life, alongside “yabba-dabba doooo”
is there some meme of fake fred flinstone quotes i don't know about?
Haha, I don't want to ruin this.
Fortunately, for the USA we can easily avoid recession and depression. We simply redefine the terms! Problem solved!
and print money
Not any more. Wake the H up, but NOT like the WOKE Rabidly RELIGIOUSLY believe.
And he ends it with “have a great day”
I mean that’s basically returning to 1900, I’m cool with it
What's going to happen is going to happen. No reason to be sad about it it's not going to change anything. Just be aware and prepare as much as you can.
Not just that; he says “If you enjoyed this video” at the beginning of the outro. I don’t “enjoy” these videos, but I’m subbed, all the same.
@@ZibongX2 if you appreciate his video then, Jesus it’s just sign offs
Have a great decade!
"Do not pray for easy lives my friends, pray to be stronger men."
-JFK
"SOUNDS LIKE SOMEONE BREAKING IN" Nixon
BO1, a legendary game.
“I banged, er ah, Marilyn Monroe.”
- also JFK, probably
@@Mr.Nin10do. "Just a storm, Dick. Sit down".
[JFK]
@@r0b_3rt3
But why is he here? HE LOST!
[Fidel Castro]
When we can’t afford our antidepressants anymore, that’ll be the real Great Depression.
Well sertraline is very cheap so I wouldnt worry about it
The big sad
As my APUSH class last year dubbed it "The Big Sad"
Bruh I can barely afford a fucking tooth filling
@@TwitchyTopHat1 don't worry bro "Inflation means higher wages"
This one won’t be as bad as the Great Depression because we have memes
Memes are kil
We can own the libs for believing the government all the way down to hell.
The memes saved my life
Don’t let your memes be dreams
They had memes in the '30s, too. We just don't pay much attention to them anymore, since some of them did not age well at all.
“What happens when countries run out of cash? They either go Commie or they go Fash!”
That Pepe’s eyes are so disturbingly large
Trust me,you haven't seen large pepe eyes
@@T2G-DJT that's cocaine
@@matheussanthiago9685 I like cocain
Or
They reform in a populist manner and refuse "both sides".
Or everything collapses and no one wins.
"The more I've read history the more suspicious I've become of governments"
Based
Yes, I was surprised, too
Based on a true story
Same, People who trust the government I'm convinced just don't know history or don't care
@@firingallcylinders2949 100%. If you trust your government you just don't know enough about them.
@@firingallcylinders2949 in Turkey to us State is sacred because the Turkish translation of State means "Devlet" whic means family,we even have songs that say "state father state father,we need you" but we dont want it to "overprotect"tho thats why state couldnt close whore-houses becase the goverment officals knew if they were to strict us we would revolt,there is even a joke "so a reporter ask prime minister about whore houses,prime minister says "What should we do? If we close Brothels, they'll fuck us ".
I believe you Rudy, but once again i live in argentina and this has been everyday life for three generations now
Rip
what video was his full name reveal again?
isn't Argentina the EUROPE OF THE AMERICAS
@Noah Pritchett he said it in a livestream last year I think a commenter asked him and he just said it lublicly
@@rpghero46 in terms of living standard it used to
When the news says that stocks and the economy are doing well, yet everyone I know is teetering on homelessness and bankruptcy, even people who were considered "Middle Class" for most of their lives, I think the system is broken.
Joe Biden did that. He failed to recover the economy of 2019 and instead just printed too much money which causes home and rent prices to spike along with the shipping problems he failed to resolve which caused an 8%+ spike in consumer goods prices
I brought this exact point up to my finance professors in November ‘21. Most of them really didn’t get it.
I wouldnt call "The system" broken. I would rather call it working as intended even though im among those loosing out. Its a lottery. Be in the right place at the right time with the right idea and the right friends. The more of us are calling "The system" broken, the closer we are to WW3.
We wouldn’t even have the Roaring 20s just like in the 1920s because everyone is staying inside
2020's is not that roaring, it's just going down.
there will be a Roar
but it will be a Roar of Doom...
@@therearenoshortcuts9868 it will be trumpets not a roar.
The "roaring" time already happened at the beginning of the century
Roaring
Yeah we're going to be roaring about how unfair it is we have to deal with this crisis for the 20s
And only going to get around to stabilizing stuff by the 30s
So, *two* “once-in-a-lifetime” economic declines within our lives isn’t enough? We need a third one? Fuck.
Throw in a once in a Gen pandemic, and with that once in a lifetime economic layoffs and evictions, and we’re looking at 3 once in a lifetime economic events and i won’t even be 40 yet
@@kyleerrington8004 I won’t even be thirty
@@Jane_8319 I won’t even be 20😥
@@KingLouie2234 I wont even be 10 😥
We also have climate chaos, famine and mass migrations to looks forward to. People don't seem to realize how serious this situation is. It should definitely factor into any life plans you might have, at least realize that everything might go sideways
"Belgians are undercut by Poles who are undercut by Bulgarians"
As a Bulgarian I can confirm that this food chain is real.
As a fellow bulgarian I can back this statement up
Bulgarian lives matter!
As a Belgian I do not feel undercut
But who are the Bulgarians undercut by?! Afghans, Syrians, Lebanese?
@@Titus7of9 In a lot of industries you have been undercut by, German/Japanese/American made Computer Numerical Control machines...
Numbers from the USA say that about 80% of our lost manufacturing jobs were replaced by automation, and if anything the EU would have had a more extreme effect.
GUYS ITS HAPPENING, HE WAS RIGHT, GOD BLESS YOU ALL
"history either moves glacially slow or like lightning" That sounded like a famous quote for some reason.
Reminds me of the Lenin quote "There are decades where nothing happens; and there are weeks where decades happen"
Is this is a preluge of revolution that we are going to start ,
19:40 I have a lot of questions with this map. How is laos the second world while India and Saudi Arabia is the third world? This is confusing to me.
@@thefolder3086 Laos has a higher gdp per capita, maybe thats why? Idk.
@@vault-tecrep8565 laos and Cambodia higher than South Africa and uae ? I don’t think it’s that high.
Ah yes, my weekly existential dread
Existential dread has been the air I breathe for several years now.
@Not RickRoll👇 Thankyou.
See you next week!
You've got to love it!
And they wonder why Millennials do drugs.
Battlefield 2042 lore:
"Oh yeah, its all coming together"
2042 is dumb. There'd be refugee camps everywhere if the world fell into ecological collapse not all this clean futuristic stuff + a little sand. It'd be way more gritty and far less shiny.
@@rogueassassin875 refugee camps for which countries?
@@Average_Canadian like just talking about the 2042 lore. There'd be slums and ghettos everywhere due to people being made refugees due to the survivable areas decreasing. It's just weird to me that they'd make the setting of rapid climate change, but only halfway portray it. The desert map for sure would be scattered with refugee camps or deserted as people flee to less extreme climates. The massive migrations alone would cause upsets in power, changes in regimes, and potential for conflict and war would increase well on it's own as nations either crumble or grow exponentially stronger, and the remaining stable world powers imperialize and start proxy conflicts in the theaters of strife
@@rogueassassin875 2042 IS gritty but the rich countries of the world have money to maintain luxuries. And that’s how it is in real life. The poor suffer and the privileged thrive
@@rogueassassin875 ace combat 4
Since World War I was originally called The Great War, and we currently call this event The Great Depression, does that mean that we’ll call the new Great Depression “World Depression II”?
you’re not funny
@@beefeater000 love you too
@@beefeater000 they weren’t trying to be funny it was just an idea they had
I’d say the second Great Depression or the Great world wide financial crisis
Probably not tbh, World War II only happened around 25 years after the first one while this second Depression will have happened nearly a century later
Predicting a collapse like this is like predicting that a TNT warehouse is going to explode. You can tell the TNT isn't stored properly, you know it's dangerous, you know it's going to explode. But there's no way to know when the spark that will set it off is going to light.
Well, PEPCON was an actual rocket fuel factory (technically, the oxidizer, but it makes fire go crazy, so close enough) they stored massive stockpiles of their product all over the plant, in open barrels (collecting dust) after the Challenger explosion and NASA (their only customer) shut down all flights for months. A mountain of highly volatile chemicals left sitting around. Unsurprisingly, it all went off when some moron decided it was a good idea to do some welding on one of the metal walls and some stray sparks caught fire in the open barrels. The fire spread and even detonated the natural gas line running under the plant, making a visible sonic boom and knocked out windows al over the Las Vegas valley. No matter how blatantly obvious it is that you shouldn't light a match in a room that's literally a powder keg and everyone there knows it, some moron will always light the match. You simply can not underestimate the potential depths of human stupidity. Every time a new low is found, some one else makes a deeper hole of stupid.
Lets say this September/Oktober
Yeah, its pretty much impossible to know when the next crash is going to happen, it could be in the next few months or next decade
The roof is on fire
@@tim333y7 I think 2025 at the longest and 2022 at the shortest. Its too late the government did its damage and the crash is incoming all we dont know is when
Whatifalthist: "Debt, debt, debt. Debt. Debt, debt."
me: "That word is starting to lose all meaning."
Whatifalthist: "Yes."
There was some wrong stuff in there...like some funny stuff, how he was talking about CPI inflation and there was a deflation graph in modern economies showing in the video. And like...he didn't differentiate between corporate or private debt and govt debt. Like majority of debt, esp in china is private debt. Given how china doesn't show data of it's actual govt debt but ok
@@harshjain3122 I m new to this , how does mentioning that change things??
What debt? we just keep printing more money like the debt and inflation don't exist at all.
I feel like we are in an age where there's more debt than money
@@harshjain3122 does it even matter anymore? The whole economic system is bonkers.
I am really curious to read this comment section in three years time. Very bold of you to put such a discrete prediction on public display, which gets my respect.
I mean bold, hyperbolic statements are the lifeblood of this channel
State forces encroaching on crypto and a large scale conflict are somewhat inevitable. Government election cycles mean no national power has any motivation to stop playing the short term game.
Yeah, he is up against Modern Monetary Theory.
This subject is common knowledge and has been for decades. It was clear by 1992. I wrote about it extensively beginning in 2004. The problem is that it's impossible to tell the public anything depressing about the future unless they can find discounts (opportunity) in it - and no institution has an interest (gain) from forcing costs of adaptation on the public when they can't 'feel' the causality. So this is why people, marriages, businesses, industries, economics, countries, empires and civilization fail: everyone prefers managed decline over the costs of adaptation that would cause nearly all members to alter their status hierarchies - which is the human system of internal measurement.
Just leaving a comment in case someone replies in the next years
I'm going to set an alarm for 3 years from now
This video aged much better than I would've preferred.
World: enters depression
Socialists: guess who’s back
This time it us, feudalists, who will take the world by storm
Back agian
@@RoderickVI eww, no, please disappear and never come back
@@dirgmario begone commie
Okay then @@RoderickVI
Communists and Fascists: *NOW THIS LOOKS LIKE A JOB FOR ME*
World is already disgusted by them , maybe we are going to get something hybrid of many super companies controlling everything and ppl get to elect between companies and their CEO s , so it's like super capitalism mixed with super socialism
It absolutely is. 😇
@@VivekKumar-rb7zk No, I'd just say super anarcho-capitalism. So basically just modern fascist Dictatorships with the sole goal of profit. The idea that the super rich would want to risk their power on the will of the people is not realistic.
Yes
@@VivekKumar-rb7zk doesen't matter, greece elected fascists into their parliament after their economy collapsed. All you need is desperation and people will turn to the extreme
When they stopped selling 5$ footlongs. That’s when I knew, the world was going down hill
The only thing that would go downhill is my weight 😂
@@iranianintelligenceagency9337 Lmaooo
For me it was when Arby's stopped doing their 5 Arby melts for $5
This video aged very well... 2022 seems like an express lane into the deeps of hell.
Stop the ride, I want off!
Install certain people and predicting this is blasting with dynamite in fish barrell. 100% chance of a fish catch.
@@damnedlegionaire sorry bro no exits but there's a way that we can take back the old world and what we had and have so much more the wheels of History move for blood and blood alone so let's start writing and the chaos begins in the streets let us kill kill and kill and kill until there is order when we find the corrupt we will kill them when we find the ones who did this we will kill them I want any fool stand in our way for a world that could have even more than what we had we will kill them store not to order but a Utopia
Aren't we still in a similar position to when this video was made? We're on a downturn, yes, but I fail to see the drastic predicted crash yet.
@@TheOneGuy1111 Worldwide inflation. Looming food crisis in africa and middle east. Gas prices all time high. Global currencies are in decline while all institutions are predicting recession within one year. Let's not forget the war. Supply chain are disrupted across the globe. There is fertiliser shortage. Well only thing i can think to make situation worse is severe climate condition leading to draught and floods and we are set for once in a lifetime ride to depression. But yes only thing that can collapse modern economy is ww3 which is nigh impossible.
“The more I’ve read history the more suspicious I’ve become of governments”
WELCOME TO THE CLUB!!!
I mean you hardley need to act like its some kind of secret you're introducing him to since he'd already said plainly that he was already aware of that.
Eh bullshit, most people go the opposite way
I don’t care what it is. Mask mandates, school, healthcare, anything. I want less government involvement in it. Especially the federal. Reduce the fed by 95% (keep infrastructure and the military).
@@thess6327 Buddy read about history before ww2.
@@fullmetaltheorist yeah buddy, i have maybe more then you
Two economic recessions ✅
Running away from a war ✅
Man failing art school
I know a girl who dropped out of art school... Maybe I should become better friends with her hehe
I got rejected by Austrian school :/
@@theeternalalbo5318 yooooooo
Global pandemic ✅
Oh boy, here I go applying to art school again
I just found out that in my adult/teenage life I'll be living through an economic crash what wonderfull news
We had the dotcom bust and the 08 crisis, unless you were born in 2012 I would say our adult lives (I'm 25) have been nothing but crises.
On the plus side: make a diary of your journey throughout this crisis and make a lot of money if you survive on the other side.
^ true. Looking at old news clips of the ‘08 crash and seeing all these stocks at bargain basement prices - man, what a missed opportunity. Then again I was unemployed for over a year as were many of my friends at the time thanks to the crash… can’t buy stonks if you’re poor.
If anyone’s fortunate enough to weather the storm, this is when you seize opportunities.
@@Pvemaster2 I was born in 2002, so many crisis and Im still not giving up
@@flavoursofsound Exactly why JPMorgan are stockpiling 500B in cash...
so far this is aging well
and it continues to do so, worryingly enough
@@pugsy7658 They planned for it.
The "great decoupling" is responsible for the productivity going up and wage stagnation. In other words when people want to say that automation will put people out of jobs in 2021. Actually, Automation was increasing productivity without workers receiving any of the gains as early as the 1960s or 1970s, I forget.
Automation isn't going to take over all of our jobs anytime soon. Not enough engineers, technicians, and production capacity. Also, we are getting a "Great Retirement" of well trained, experienced technical staff that are not being replaced by extremely short sighted companies.
My prediction is that Automation will experience a shitstorm.
Automation has been doing that since the 1600s when looms killed the concept of "winter work" in rural communities. It used to be that they spent the winter sewing or making small crafts to sell in the spring to compliment selling produce in the fall. But the invention of "looms" and "spinning wheels" allowed specialists in the city to do the work much faster and better for little more than the cost of rent in the city.
There's very little new about current automation that we haven't been dealing with for centuries. Tools allow for way more productivity and whomever own the tools captures most of the benefits of that increase in productivity. When people could buy their own sewing machines of the same style as the factories they could and did go into business for themselves and captured most of the products. When it takes several lifetimes of income for the average worker to build a factory that will be obsolete in twenty years workers take whatever they can get.
Currently it's cutting both ways, but we do need a concerted effort of getting tools in the hands of the people or we'll start looking increasingly feudal as time goes on.
@@Aesoporific regardless, whatif's statement has just been clarified for you
@Jamie Walkerdine no its not. It's an objectuve event studied by economists
theres been a 300 percent rise in productivity since the 70s. technically we work more while still being paid the same
Another recession, just in time for another MW2 game.
Ahhh, nostalgia
Its all coming together
Hoi4 but it's irl
2008 2
Next MW game is set to release in 2022 so lets see.
We’re gonna call this the Big Sad
Wrigley field will be bought off by the Chineese. :(
@@chainmail5886 doubt it, but it’s not impossible
@@alcostello6114 I just hope we can preserve it for future generations. Comiskey Park has already been lost.
@@chainmail5886 I agree. After they tore down Comiskey it definitely destroyed a lot of the Sox’ connection to the city.
Big Sad
Large Misery
Oversized Unhappy
Giant Dread
The biggest issue in the west (especially the USA) is the insane cost of housing. There are three basic things you shouldn't fuck with as a nation. Food, Water, and housing. If people can't afford a roof over their head they will become desperate fast. Two generations of adults in the US are slowly realizing that home ownership is now only for the rich. As a person in his 20s who would like to own property one day, I truly believe this won't stand. How will the rich justify owning several real estate properties "as an investment" while middle class families have to rent apartments. At the very least this will effect birthrates since who could afford a child if you put half your income to housing. But I am personally hoping it leads to some real progressive policies that limit the use of housing as an investment asset to those that actually live in the homes.
So much good would come from regulating housing market a little bit. Make it impossible for big corporations to buy entire blocks and stuff. Allow people to rent out their besements and extra rooms of course, or if you happen to be 2 homeowners you can rent out your extra home. But any more than that takes a very big toll on the market and unnecessarily prevents the average man from owning. Everyone (as many as possible) should own their home, even if it's just a small apartment.
The same in the east, you have to work 50 years in average for an apartment in Hong Kong
No don’t regulate housing, build so many more houses that it drops in price again. Either way let’s be honest it’s gonna crash in like 6 months with a 40-60% home price drop soon. So don’t worry too much about housing worry about employment
@@LucasFernandez-fk8se You're not going to be able to afford a house if the housing market crashes and the US enters a depression. No bank will let you pull out a mortgage.
@@Val81121 the biggest problem is they are giving out loans to people who cant afford it already which is why the market will crash.
Austrian artists who just failed art school: This is my time to shine!
Benito's Grandson: count me in!
I’m next to Pearl Harbor “sweats intensifies”
I hope
this is not even funny, just terrifying, i just hope that people have learned from the 20th century...
Hahaha...what a funny joke...your joking right ?
Love the ending: "If you enjoyed this video explaining why the world economy is about to collapse, please like and subscribe...."
My grandma: had gone through collapse of the USSR
My mother: had gone through several economic crisises in 2000's
Me, seeing this video: *_im fucked_*
You'll continue the tradition and survive this too, and more people will survive this time
@@splashnskillz37 thanks! Yeah, I think I'll survive, that's our Russian tradition :D
The economic collapses in the 2000s were nothing interesting. Outside of 2007 they were all over in a year and 2007 was done by 2010
@f1resta_r you forgot about the default of 1998 ;)
We all get used to it... and thats when we will knew that we are strong man.
oh boy, I can’t wait for another depression to hit as soon as I gain financial independence
Another depression? Joke's on you I'm already having one
I know that feel. Feels bad, man.
You may have depression but it's not that "Great"
oof
X
X
Another happy episode I see. Jokes aside, this looks like a good one.
The nice thing is that the energy transition will not yield. Less money means less money to use on fossil fuel subsidies. And in the meantime, we have 4-5 years left to get the last of the renewable technologies cheaper than fossil fuels.
Which ones your fave? Mine is the wars of 20s and 30s
Whatifalthist: “We’re soon going to have another Great Depression.”
Me: 🥺
Ad: “Today, I’m going to show you how to make the food that helped save the U.S. during the Great Depression.”
Me: 😭
LMAOOO
Bro I got the same ad before the video started.
@@therockking8509 The algorithm is trying to tell us something...
At least i, not the only one 😂
This stuff sells ads. Don't buy into the stupid fearmongering.
Granted a think a crash is coming but honestly this dude is pretty dumb. His reasons for thinking a crash is coming is laughable. Except maybe the property bubble, but that's not likely to be the same as 2008.
Capitalism is going to crash because it erodes its own base by reducing wages. Not to mention it's inherit instability as we can see how a distributed economy of self interested short-sighted individuals fails to react to literally anything. Every small disruption is a disaster. So that's climate change, resource depletion, living beyond means based on debt fueling bubbles. Look at the panic now that workers have a tiny amount of bargaining power now.
One reason so many people don't want to take the low paying jobs is that they keep expecting more work out of people while treating them worse (with many protection that had been around for decades being eroded) -- to the point some people who could have held such jobs a decade or two ago now would be physically unable to do what is demanded. Of course, this has a snowballing effect as increasing understaffed employers end up push their remaining employees that much harder (often while providing less service to customers) to pick the slack created by unfilled positions -- which then makes even more people unable or unwilling to work in such businesses (and yes, there is no question as I'm concerned that both unwillingness and inability to meet demands are factors effecting different individuals).
“The more I’ve read history, the more suspicious I’ve become of governments.”
If you only take one thing from history class, it must be this
"I fear the foreign killers will kill more of us than the domestic ones"
@@nelson6702 I don't like you, and you control me, but at least our neighbor hasn't killed bolth of us... in very creative ways.
The historical way of ruling mentality
That was the most profound thing Whatifalthist has ever said on this channel.
I can't stand people who look at history and current social problems and say "this looks like a job for Government!" It's the epitome of "I have no idea what I'm talking about"
Probably the greatest statement Whatifalthist has said
“How can you rise anew if you have not first become ashes?” -Nietzsche
thank you mr. game & watch
Remember that this message doesn't apply if you're not a phoenix.
@@aquilo1714 as a person who turned into ash, i can confirm, there is no going back, they have internet connection here in the ashworld though
@@thesenate8268 Once you go ash, going back is trash.
Nietzsche became ashes, and he did not come back. As in, for the last decade of his life he was incapacitated by illness. People forget that suffering tends to destroy far more people than it transforms. I think only about 5% of our suffering is actually necessary to learn what we need to know. I would know, personally. I have fought like hell and suffered terribly for 25 years with mental illness and addiction, and all it did for 95% of that time was fuck me up and make me isolated, lonely and bitter. And terrified all the time.
Only until I found the right, most advanced modern neuroscientific tools did things start to slowly improve. At this rate, in five or so years I might be okay! But if I had found neurofeedback ten years ago, well...I might have had even a snippet of the life I wanted. Or even children! I think I would have wanted kids if I got into a serious relationship when I was younger, but now, at 42, I'm tired. Bone-weary.
We have Stockholm Syndrome when it comes to suffering. We have suffered so much as a species and for almost all of history could do nothing, so we invented this philosophy to justify it. Now that things are changing, we are still stuck in 'suffering = transformation' mode. To keep moving forward we have to drop the mostly bullshit approach.
This went from a alternate history channel. To predicting the future real fast.
Ya, I’m thinking whatifist is going down a rabbit hole in his life right now.
And I'm living for it.
he needs to go back to making more althist videos
Whatifaltfuture
@@Kolateak_ WhatifTHEfuture
"The more I've read history, the more I have became suspicious of governments" Good quote if it just wasn't an intro for an ad
I work with a guy who has a whiteboard full of his "theories for the next 5 years" behind him. Whenever the dates he puts down for events go by he just rubs them out and puts new ones in. This channel reminds me so much of that guy.
he makes point though
Dudes got some weird ideas, but I like to follow him for the possibilities (some more absurd than others)
Facts. People have been saying this since the Great Depression. Change = instability for people like this
This channel hasn’t made any predictions for times that have come and gone yet though. What are you talking about?
@@reecev2087 it has
“We’re the middle children of history, man. No purpose or place. We have no Great War. No Great Depression. Our Great War’s a spiritual war… our Great Depression is our lives." Get out there and find *your* success tone your body and be diligent in your applications of frugality and the use of your time.
With nukes you don’t want another Great War.
We will have worst. Thats the video message.
@@johnl.7754 I don't think nukes will be casually launched around even if another Great War breaks out. But small nukes against strategic targets might be a thing if it comes to it.
This is pretty cringey imo
I think this quote was from fight club lol
"If NFTs, literally the dumbest thing of the century..."
It isn't dumb if it functions the same way that High Art does - it allows you to launder horrifically large amounts of money as 'donations' to different charitable causes, especially beyond State lines.
Nft isn't used by mafia. They're mafia ...not toddlers. They prefer the more conventional methods with creativity rather than nft
The better way to think of NFT is that it allows you to buy a file that can't be copied. Which in the future would allow you to buy a house online, just buy the deed NFT and boom there's a house you now own the deed for online.
@@Myname-cb9ru
Being able to sell a deed for crypto-currency outside of the regulatory framework of realtors and banks would largely be considered laundering by the current system, though. Imagine buying a house without a credit check, and no background investigation where they have all of your identifying info!
So NFTs are still a way to launder money, regardless of what asset you are talking about.
NFTs are really just another reason why the rich will get richer and the poor will get poorer.
NFTs aren't a beginner friendly business model, since you have to invest about 80 dollars (currently, considering the Ethereum gas prices) to launch just one NFT. Celebrities can launch any random NFTs and people will blindly buy them. But if you aren't well known, most likely people won't be interested in your NFTs and you'll end up just losing money.
@@itsvmmc spot on, nfts are just for the rich. at least for now as no random person can really make money with them unless they are extremely lucky
i have to say, there's a weirdly satisfying element to returning to this video only to see it was 100% right (which of course, anyone who was paying attention to both it and the state of the world would never have doubted). it's especially satisfying to read through all the comments by the smug haters who have gotta eat their words now.
Ik right all those idiots making fun of it
I've seen people trying to discredit him as a college dropout, his age, etc. Yet a man with information is a man with information, no matter what background
There’s been a total collapse of the global economic system? I must have missed it. So far we have Reagan era inflation levels, which the fed is fighting by raising interest rates. Likely this will cause a recession, but the fed is trying to move slow enough to have a “soft landing” and avoid an actual recession.
None of this is good, and we still don’t know what will happen, but how exactly has a prediction of a depression and total collapse of the global system been vindicated?
Putting another coin into the "Whatifalthist was right" jar here
@@_yak Yes you indeed must be living under a rock
I’m at agricultural College at the moment in Australia and our economics lecturer (he’s a hedge fund manager) has been telling us how to position ourselves in preparation for this crash. Essentially to avoid inflation, own physical assets with intrinsic value like gold and property.
That's good advice. Since your in Australia it doesn't really apply to you but ammo is a really good investment in the US. It'll hold it's value against inflation and can sit in a box for decades.
Is crypto viable? I’ve been thinking about putting a chunk of my life savings in it. I know it’s very unstable but after seeing this video I think it’d be better than nothing
@@Asdf-wf6en arse?
@@IC-lz3of cringey brit?
@@Asdf-wf6en yeah, mate
Thanks man, I was almost having a good day.
I have never had the luxury of living a comfortable, stable life. I was born into first world poverty, and have bounced in and out of the lowest possible form of "middle class" (only technically considered that btw) for the bulk of life. I have been homeless six times, and no matter how hard I have tried I never get ahead. I do not have family to lean on or connections to exploit. I have mental limitations that hamper my ability to understand some of life's complexities others do not struggle with so much. If it were not for my personal friends and my ability to draw nice breasts, I'd have nothing.
At the end of the day people like me, and those adjacent to me, suffer the most in our respective nations. First and second world considered. We are exhausted, and we are the growing majority with each passing decade.
life's hard sometimes.
and the rich grow richer one day we will right things I know it in my heart one day we will create a fair and just world
I feel you, buddy. I have to get up at 4 in the morning.
How can you be homeless? Just buy a house lol xD
That post took a turn
This video was made before Ukraine. Petrol prices are at &2.20 Aud which means it takes $75 compared to the post covid price of $1.60 which was about $50 odd to fill up. Not to mention the expected rise in food prices due to delivery costs. The domino effect of people reigning in spending in order to survive is yet to be felt.
We were already heading toward depression/recession pre-pandemic. All it did was hasten the process.
@@Snoop_Dugg facts 🤦🏽♂️
May 21, 2022: consumer sentiment at lowest levels ever. Retail spending now will probably fall off a cliff soon
This guy is like:" the next 2-3 years the whole economy will collapse. And also buy the vpn that sponsored me."
Best sales pitch ever!
Sigma grindset
I stopped taking it seriously when it went into the VPN pitch.
@@jameserickson5372 no one asked
@@andrewjennings7306 I asked. I care.
@@andrewjennings7306 I care as well. I hope James is having a great day.
What you fail to mention is that five tech companies make up 20% of the SP500 Index's value. These companies (google netflix facebook apple etc) were direct beneficiaries of the stay-at-home restrictions put in place by governments and have very little physical footprint. So it is not really surprising the stock market went up in late March of 2020. Meanwhile, the sectors of the market that were most impacted by COVID (travel and hospitality) make up a very small percentage of the SP500 index.
I think you actually just helped prove his point. How could 5 tech companies represent 20% of the economy? It doesn’t. The stock market doesn’t represent the economy and that’s one of the many problems.
@@ky_1219 They don’t represent 20% of the entire US economy, they make up 20% of the SP500 index which consists of the largest 500 companies in the US. There are countless small businesses and many smaller and medium cap stocks not included in the SP500. These are also massive global companies that produce huge revenues.
@@ky_1219 no, what I mean is they could go, market would crash, but the rest of economy is fine…
Actually... the all the multinationals behind the deep state (not just the ITs like google netflix facebook apple etc) were DIRECTING the stay-at-home restrictions and lockdowns put in place by governments...
@@MLK3forEver Bingo !
So basically what you’re telling me is syndicalist and fascist firefights on the streets? Stoked
Someone keep an eye on Germany please.
Civil war pog /s
@@madafakahakunamatata8269 that old hag won't do shit. All that's happening to it is being colonised by turkey
@@harshjain3122 I think you are over reacting or are misinformed about what Turky is trying to do.
@@neasper ah yes turkey currently competing with France in the eastern med as France attempts to contain turkey there trying to pick up influence wherever they can.
Just 1 more week before the Second Great Depression hits guys, better stock up on gold and food buckets 😅
Me: oh yeah can’t wait to watch some more althists
Althist: you are going to be a Begger in the streets when you’re 40
Saint Francis: stonks?
There's always violence
"Tech has no room to expand" tech has been expanding since the first hominid sharpened his stick while the other has unsharp sticks.
Tech isn't "screen time" this is a dumb take
"People will be moving to remote areas to work from home" -> "Tech has no room to expand" ???? Bullshit.
Tech is not overvalued at all, it's what defines this age and day.
Right as facebook entirely rebranded just to get even deeper into tech
Interesting about tech. I honestly, do think tech is somewhat overvalued, in the sense lots of people are betting on the future of tech companies, and I dont see them producing something this revolutionary until 10 years down the line. Like in the short term, tech is looking to be a bubble. In the long term, this bubble may not matter since everything is heading towards more and more tech, and the previous 10 years I believe, without tech, would have been an absolute disaster for the US and western nations. Tech is the reason why '08 recession 'recovery' actually produced something, without it the US has produced literally zilch.
Yeah, that's a pretty standard bit of motte and bailey rhetoric. When he says tech he's referring to a very specific period in the present and recent past that revolves around companies creating businesses to take advantage of internet technology over the last 20-30 years. To "refute" this you refer to a different definition of tech: ALL Technology that has ever existed.
You knew what he meant by "tech" (of which there are many that predict it's in a bubble or overvalued at the current moment) but instead of coming up with an actual counterpoint, you just used a different definition of the term so you could pretend that you're smart.
You're not.
@@MidlifeCrisisJoe did you listen to the part in referencing? He literally says tech has hit a limit bc people are unhappy with the amount of time they spend on screens and the internet.
Tech isn't screens and the internet......
We are living in one of the most interesting times in history
lmao yeh
Yup ! Absolutely ! E n d t i m e s and e n d g a m e s - SARS/COV-desaster -> total population and mind control and the biggest crash of history lurking at the horizon . . . . prepare for the worst my friends . . .
Yes, in other words one of the worst times in history. "Interesting times" are always hell for the people who actually have to live through it.
For better or worse...
Yeah.
well...
WE'RE WAITING...
Well look at nasdaq
As someone who will likely be living through this hell in my 20s, its strange that I feel nothing but excitement
Same here either I just stop caring or I have a plane on what's coming
Same here although for me it will probably be my 30s. The only problem is I live in a place famously sandwiched between Germany and Russia... hopefully I'll survive the opening fireworks.
@@kamilszadkowski8864 I doubt germany and russia will get into any serious conflict, russia is a dying power and probably will continue to crumble under the weight of its corruption and militarism. If anything I’d probably just assume increasing nationalism when the german investment pulls out.
@@kaihinton6623 Well, it depends. The current Russian doctrine predicts using the Russian Army not against major powers but against their smaller neighbors in short, low-intensity conflicts.
So happens that Lukashenko is currently pushing "migrants" across my country's border while new Zapad maneuvers are planned to happen in the near future. So a form of hybrid warfare is already in use against us.
So I'm afraid that we will end up with a never-ending border conflict that will only go as hot as to not trigger article 5.
I'm not afraid of a full-scale conflict, however, (which may happen if NATO collapses under the weight of future crises but this is unlikely) but I am afraid that my country will either lose most of its sovereignty or sense of identity or both.
By this, I mean the ability of independent decision-making and having a voice in matters relevant to our region.
Most of it was already taken from us either by the EU or by powerplays of Germany, Russia, and the US. Look at Nord Stream 2 as an example of it. Ukraine and Poland got absolutely fucked by all three.
So I'm basically facing two possibilities. I will either live in a country and nation deprived of its own agency and identity through the EU institutions and influence of Germany as well as left-wing/woke ideologies, relegated to be the province of cheap workforce and consumers of lesser quality products in exchange for being quite modern and reasonably wealthy.
The alternative is to "de-westernize" and break those ties at a price of a much worse economic situation and even more uncertain situation at the Eastern border.
Anyway, the game is rigged.
@@kamilszadkowski8864 my guess is the latter. If events play out as predicted, then economic hardships will cause more advanced nations like germany and western europe to retreat from globalism.
I wouldnt lose hope though. Poland today is still leagues ahead of nations like belarus and russia per capita, and even if they are able to strongman their way into some kind of threat to poland then even a limited german presence might just be enough to deter russian encroachment.
Russias immediate goals though are more focused around their immediate border regions such as ukraine and the baltics, which they seek to integrate and ‘reunify’ to restore former russian hegemony over eastern europe. This has been russias goal for the past 20 years and they have for the most part been pretty unsuccessful at it.
Considering russias declining birthrate though and their inability to advance past a gas export driven economy they will eventually just become a failed state. Perhaps someday in the future though they may be able to reform into a more open nation.
As a bulgarian, I had no idea Belgium was undercut by us. I hope they'll be ok.
Actually, you were cited as undercutting the Poles, who were in turn doing the same to the Belgians.
(I'm belgian) Not that I knew about the Bulgarians tho, I only knew about the poles undercutting us.
@@WannesVn Well poles only undercut because belguims are choosing to pay them less
I love how watching your channel cure my depression by promising me much worse in the next years
It definitely helps to know your enemy
The next few years are gunna suck, so enjoy this year while you can
As of right this second, this video has aged well
And it just keeps getting better
If historians don't take the time to call it "The Big Sad" I'm going to be disappointed.
As hilarious as that would be, I'm pulling for The Great Misery. Other commenters recommended it, and I quite like it. I think it sounds quite grandiose and dramatic, just like the fireseeable future of our planet...
@@Tyler_W Hi Tyler, you made a tiny little typo in "forseeable". Just wanted to let you know. :)
@@Tyler_W oh com'on, the great misery would fit better with the post napoleonic wars fallout period
just ask anyone who's ever read Dostoevsky's works
"the immeasurable disapointment"
it's in our hands, just vote with your favourite memes
Love these.
Request- Go deeper on cyclical models of history, specifically as they apply to our current situation.
Exactly I go to this channel for history and how it relates to today, not necessarily critiques of modern economic theory
Yup. I've read a few books about this, and we're in the end of the largest secular cycle in history.
I'd request you to read professor Erik Kaufmann's books on religion and other demographics to get a better understanding.
Yes, more cyclical models of history, for more cynical models of the future, that's what I want.
@@Joseph-do9nz Thanks for the reference, Kaufman’s stuff looks damn interesting.
I’d also like to see what althist has to say about Strauss-Howe theory - and the conflict between cyclical models of history vs progress models of history more generally.
YES! I'd love to see this guy cover that
Ah, back with my daily dose of *The World Is Bleak ft. that Canadian Historian*
This video is getting freakishly more accurate as time passes
Facts
how? i ate today and the day before, and the day before that, and i'll be eating tomorrow and the day after that.
@@swole5711 you blind or dumb?
“Just because it snows, there is no climate change” - lOgiC
@@swole5711 It's like predicting weather. You can safely predict what the weather will be tomorrow, or maybe even a week from now. But a month from now? A few months? Many months? A year? Your predictive power depreciates the more variability you involve by adding more days within the prediction measure. It's naive to assume that current paradigms or the status quo cannot be changed. You might very well experience the Great Depression of our generation. Only time will tell.
As someone who understand economics, man you nailed it.
I always struggled with understanding economics but i decided to watch this video anyways
well, fuck I was actually hoping he was wrong this time
He even got wrong the concept of inflation
Point me to good economics books
Except the fact that people cant actually ive off unemployment covid checks. Unemployment is low as fuck.
"But now since everyone's doing it, people really don't have an alternative to put money in"
Welllll
Gold stuffed under your mattress?
That is a deep place to put your money
Don't say Bitcoin
Buy land. Grow crops. Buy guns. Live next to an independent, strong community doing the same thing.
In USA, you can find these communities near Protestant Churches in rural areas (which is... meh, cause I'm a Catholic, but oh well)
Atleast you won't starve and die if things become communist-russia-level bad (which I doubt will happen, but nothing wrong in being cautious)
@@Joseph-do9nz They will become around the level of Soviet-Breakup for the majority of the planet. Very few areas (and even less of those being accessible) will escape it. However, a few will be hit much, much worse. Stay safe, stay well, and stay free.
everyone 20 years older than me: "you guys have it so easy, we had to walk to school and didn't have those fancy computers*
me: *9/11* *arab spring* *coup d'etat at my country in 2009* *all the presidents family gets locked up for drug trafficking* *historic hurricane damage* *the cheeky virus that has us locked up*
Tryna figure out if you either live in Colombia or Syria imao
You in the middle-east? If not...htf did Arab spring effect you much?
@@minutemanchan7232 He has a Spanish username and I don't think many hurricanes have gone through Syria...
@@laboskie349 Yeahhh but he mentioned how he was living in an Arab spring nation
Youngster, I'm almost positive I've got more than 20 years on you and I don't know of a single oldster who thinks things are easier for the upcoming generations. I think you are all screwed. My day may be over, but I realize at least I had one!
We may not need to wait 3 years😕
The Great Depression: **Continues for a couple of years**
Me: Okay, I’m fine, I will be entering the workforce towards the end of the recession.
Althist: ”This will last for several decades”
Me: WELL MY LIFE JUST SUCKS
Several decades. You gotta be kinding me!
No one can predict the economy, it's funny how every person calling for a crash can't explain in detail how and why exactly is crash gonna happen but instead use very vague sayings like "this will be something like we've never seen before" or "this will last for x years". It's because they don't know.
@@itsvmmc Boie it was a meme
Thanks Whatifalthist, for the the daily dose of dread.
soon youll be lining up for a daily dose of bread
@@liammckevitt8096 damn bro
@@liammckevitt8096 I'm dead 😭
@@burgerman5335 just like Dinocraft is gonna be without that bread...
Hello everyone this is your daily dose of dread
"Since when did you become a preper?" - "Well, you see, it all started with this video by whatifalthist..."
You're late. Also, I'm not sure there will be a stock market crash. The stock market is not an indicator of the economy. It's simply a basket of companies. Many of these companies will outlast the USD.
The S&P keeps "going up" because of an illusion. It's actually just maintaining its value. The amount of money needed to buy a share of X, Y or Z is going up, because the USD is losing value rapidly.
3:08 I have read many theories about the depression and none of them support this conclusion.
3:36 Also not what anyone thinks caused the great recession
6:07 classic middle schoolers take on the Phillips curve
6:27 You're kinda leaving the massive productivity gains brought about by globalization out of the picture. International competition is making the world richer, we just aren't distributing that wealth well
6:47 its genuinely irresponsible to make claims about economics without understanding it at all
7:00 "so that people feel less poor" See above comment, this is not how monetary policy works. The Fed has a target or 2-3% inflation, they were below the target so they printed money till they got there.
7:21 an extrapolation from the previous incorrect conclusion, the bullshit snowball is beginning to get rolling.
7:25 only if you only look at nominal figures, the debt to GDP ratio was much higher in the 1950s worldwide
7:43 The military has little to nothing to do with it, its an outgrowth of the Bretton Woods system and the size of the dollar. Analysis of why others can't replace it are spot on tho
8:26 beginning to look like one of those marketing videos targeted at old people to get them to invest in gold
8:43 Crypo... sigh
9:05 "Dollar is weak" how exactly? When crises happen (see 2008) others flock to the dollar for stability, there does not currently exist any currency that can replace it.
11:06 talking about peacetime debt, examples... wars? And the graph is of inflation?
11:20 Again, not true. We had higher debt after ww2 and we got out by just keeping a balanced budget and growing the economy. Same with every other country in that period.
11:40 can't even read the newspaper smh, the 3.5 trillion is over 10 years not 1 year.
12:19 why? it hasn't been representative of real economic health for the last 150 years, why would it start mimicking the real economy now? Its doing what it always does, over inflating and then crashing back down.
13:40 don't disagree per say, but the dot com bubble was the same and the recession was minor
15:08 cringe, the welfare went away and nothing changed so it clearly wasn't that
15:22 No..? You can use statistics and economic theory, there is tons of good data to work with. This is perhaps the most cringe take in the video, Stock market bubbles and public debt are two of the most studied fields in public finance. There is decades of literature you could have read that would inform a more sane conclusion. Thinking that government data is falsified is also pretty dumb because it is a completely unsubstantiated belief. There are no examples of falsified economic data from the last 70+ years
TL:DR This is giga cringe. Read an econ textbook for once and stop prognosticating about things you know nothing about
Thanks for putting up the only sign I've seen in the comments that maybe we shouldn't guzzle down the doom juice, it's too easy to get off on hopelessness
@@LosOdium141 It just get under my skin seeing these videos because I know that ~7 years ago I was guzzling the doom juice too. Tried to get my parents to pull out of the market in 2014. They told me I was an idiot and made 30% gains for the next 7 years.
Now I have an econ degree and am cursed to see teenage versions of myself making the same mistakes.
read an econ textbook LOL
Got any econ book recommendations?
Hopefully one i can find at my local library
@@reed6514 Yeah I want to know too
I don’t know why but I love hearing about terrible things like this from whatifalthist. Gives me hope and a sense of dread at the same time😂
as a fellow (albeit poorly spelled) wildebeest, I endorse this message
It gives me the same feeling when im playing fallout and ron pearleman says "war...war never changes"
It's a reminder that we, like all men before us, are living though history.
@@leifkhas7425 exactly, that's how we humans work, we won't change until we absolutely have to
We listen to profets hoping to see the future that will be. Telling them from the charilitions can be the real challenge.
"Oh, Whatifalthist, is that a submarine?"
"No, that's a blackpill. _Open up."_
Lmao
Infrared*
"history either moves like glaciers or like lightning" is a great quote that I will be using henceforth
This video aged like gold
Points where you're wrong/mistaken/need correction:
1. We've been in a bubble for a long, long time. 2008 never really completely popped. Really hard to predict when it will pop. It could also deflate a little and get delayed by yet another 10 years.
2. US main export is the US dollar. It's not just that India needs to buy US dollar to do trade. An Indian citizen will buy US dollar to store his wealth. As such US doesn't experience 'normal' inflation as it's largely exported, in fact it suffers the opposite thing - demand for US dollar is too high. It's true that it could be changed with adoption of BTC or Yuan around the world, but arguably that will be better for US citizens (asset prices will decline but standard of living rise).
3. Printing doesn't lead to inflation. You also need to distribute the printed money around population. UI benefits and checks and rent assistance do that, but to an extent. It's not the full trillions that Congress spends (would've been GG already).
4. People popping up memecoin and memestock price are NOT wealthy. It's retail investor. And it's fascinating. Basically they are irrational and it's a proxy for gambling. You can ignore it and not think about it at all. If financial institutiona start buying doge, yeah you could be worried.
5. You're thinking wrong about NFTs. Think about luxury watches, jewelry, or cars. Completely useless things, yet people buy them like crazy. We're social apes and showing off that you're higher status ape is important to a lot of people. NFTs to tech founders and CEOs are what roll royce to mafiozzo.
6. Back to inflation, US dollar will be the last fiat to go. Expect every other fiat to start losing value first, and only afterwards US dollar. As other fiat drops, demand for US dollar will grow, giving it more time to live.
I want to see what economists who disagree with his main thesis say. He just kind of makes broad stroke statements against every economist for being "stuck in a post-WWII world," but he doesn't respond to any specific claims from those economists.
I'm surprised he didn't refer back to early 90's episodes of The Simpsons as a measure for how much living standards have fallen in recent decades
The fact that COVID didnt already crash the economic system makes me think the system is more robust than WIAH allows.
I thought that printing money is what has kept it going this far.
Or the bubble is bigger than we think.
The only reason it didn’t crash was
1. Governments started printing lots of money
2. (VERY IMPORTANTLY) People aren’t spending money on normal consumer goods like food and such, they’re spending it stuff like PC parts, stocks, and other things. This has temporarily slowed down inflation in key and noticeable areas, but all investments flow back to consumer goods, so EVENTUALLY, stuff will increase
@@lemmonboy6459 Ive been hearing my whole life (38 yrs) about how printing money is going to cause the end of civilization. The only thing which has happened which looks vaguely, slightly apocalyptic has been COVID, and it wasnt caused by printing money.
@@napoleon8181 you must've been sleeping when Venezuela literally destroyed itself via inflation.
Macro economists have successfully predicted 9 of the last 5 recessions.
"This recession will likely spark a series of events unlike anything seen before in human history"
I thought the same a few months into quarantine. Over a year later I can say we are seeing things happening that I didn't expect for another ten years.
What are some examples of things you didn't expect?
Same, things are moving really fast these days.
Can’t speak for OP, but personally I didn’t expect the open hostility between China and the west for at least ten more years. The US and China’s economy’s are so intertwined, I figured the establishment would continue to let China’s shenanigans slide, since so much money was on the line. Then the pandemic happened and everything changed. It seems like just yesterday Trump was thawing relations and signing trade deals with Xi, now suddenly it feels like we’re on the brink of war everyday. Remember when Russia was the big threat after Crimea? Seems like small potatoes now.
@@Legenderrydanny energy crunch happening all around the world? For me, I will never imagine the second largest economy on the world constantly on blackout on its most major cities. So yeah, didn't expect that.
We are on the brink of world War 3 now. The way to prevent it is isolate Russia and China, yet the west has no intention of doing that. While Russia and China might not be the best friends if the US wasn't keeping them I'm check they would be better.
Just like the economy though, I'm sure they will find a way to keep avoiding the crisis.
Well here’s something to watch in between Kabul updates
pro tip probably stop watching that shit all day because you're gonna insane and become very unhappy
@@gotworc thanks dude
@@gotworc “no wait he’s got a point!”
@arl business or a new pending occupation somewhere else with better margins
If you are that interested in Kabul go join the action, or stop watching lies and go pray for them.
I always watch this channel when I’m feeling too happy